The Risk Assessment service, as the name implies, entails evaluating the risks that the entity faces and proposing mitigating procedures related to the entity's control environment. These risks encompass both systematic and non-systematic categories.
At JASM Accounting, we provide risk assessment services, considering all types of risks affecting the entity. Our methodology for delivering this service is as follows:
- Identifying the risks to which the entity is exposed.
- Evaluating the entity's current control environment for risk mitigation.
- Contrasting mitigated and non-mitigated risks, determining the impacts of unmitigated risks at the assessment date.
- Examining the entity's costs associated with risk mitigation and proposing cost reduction strategies while maintaining the entity's risk appetite.
- Providing deliverables in accordance with the agreed scope and within the specified timeframe.